Panhandle Oil and Gas Inc. (PHX) Position Cut by Deutsche Bank AG

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Deutsche Bank AG trimmed its position in Panhandle Oil and Gas Inc. (NYSE:PHX) by 45.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,743 shares of the oil and gas producer’s stock after selling 17,582 shares during the quarter. Deutsche Bank AG’s holdings in Panhandle Oil and Gas were worth $320,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Panhandle Oil and Gas by 0.5% in the fourth quarter. BlackRock Inc. now owns 1,171,021 shares of the oil and gas producer’s stock valued at $18,151,000 after acquiring an additional 5,664 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Panhandle Oil and Gas by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 715,806 shares of the oil and gas producer’s stock valued at $11,095,000 after acquiring an additional 11,393 shares during the last quarter. Vanguard Group Inc increased its stake in Panhandle Oil and Gas by 0.3% in the third quarter. Vanguard Group Inc now owns 710,337 shares of the oil and gas producer’s stock valued at $13,106,000 after acquiring an additional 2,000 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in Panhandle Oil and Gas by 1,818.9% in the fourth quarter. Deprince Race & Zollo Inc. now owns 295,652 shares of the oil and gas producer’s stock valued at $4,583,000 after acquiring an additional 280,245 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Panhandle Oil and Gas by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 176,169 shares of the oil and gas producer’s stock valued at $2,730,000 after acquiring an additional 8,042 shares during the last quarter. 60.22% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on PHX. Zacks Investment Research raised shares of Panhandle Oil and Gas from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Wednesday, April 24th. Scotiabank reaffirmed a “buy” rating and set a $5.00 target price on shares of Panhandle Oil and Gas in a research note on Thursday, April 25th.

NYSE PHX opened at $13.69 on Friday. The firm has a market cap of $226.82 million, a price-to-earnings ratio of 40.26 and a beta of 0.52. Panhandle Oil and Gas Inc. has a fifty-two week low of $13.54 and a fifty-two week high of $21.33. The company has a current ratio of 4.61, a quick ratio of 4.60 and a debt-to-equity ratio of 0.33.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.17%. Panhandle Oil and Gas’s payout ratio is presently 47.06%.

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Panhandle Oil and Gas Profile

Panhandle Oil and Gas Inc acquires, develops, and manages oil and natural gas properties in the United States. The company produces and sells natural gas, crude oil, and natural gas liquids. Its principal properties are located in Oklahoma, Arkansas, Texas, New Mexico, and North Dakota. As of September 30, 2018, the company owned perpetual ownership of 258,555 net mineral acres; leased 17,203 net acres; and held working interests and royalty interests in 6,079 producing oil and natural gas wells, as well as had 69 wells in the process of being drilled or completed.

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Institutional Ownership by Quarter for Panhandle Oil and Gas (NYSE:PHX)

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